Peter Schiff
@peterschiff
Now Donald Trump
is advocating eliminating the income tax completely and replacing it with tariffs, which was how the federal government was funded prior to 1913. In fact, the 16th Amendment was ratified precisely to replace tariffs on the middle class with income taxes on the rich. However, in 1913, the federal government spent less than 2% of GDP. Today it spends over 24% of GDP. It's impossible to fund the massive federal government we have now with the indirect tax system we had then. If Trump wants to return to the tax system we had prior to 1913, he would need to eliminate all the government programs enacted since then. That would really make America great again.